Mexico-US Trade Talks Delayed to October as Tariff Negotiations Continue 
Asian Stocks Fall as Bond Yields Surge Ahead of Trump-Xi Summit 
Soybean Futures Slip as Traders Await Trump-Xi Trade Signals 
Gold Holds Near $4,275 as Rising Treasury Yields Fuel Fed Rate Hike Bets 
Wall Street Ends Flat as Oil, Treasury Yields and Fed Jitters Rattle Markets 
Dollar Holds Near Two-Month High as Yen Approaches 160 
UK PM Burnham to Unveil Economic Vision at Labour Conference 
Trump, Xi Focus on Trade and AI at White House Summit 
Fed’s Hammack Says Bond Yield Surge Is Not Driven by Inflation Fears 
US Stock Futures Fall as Treasury Yields Surge Ahead of Trump-Xi Summit 
European Stocks Fall as Bond Yields and Geopolitical Risks Weigh 
US 10-Year Treasury Yield at 6% Emerges as New Market Risk Threshold 
U.S. Dollar Hits Two-Month High as Oil, Treasury Yields Surge 
China Agrees to Buy 20 Million Tons of U.S. Coal 
Oil Prices Jump 3% as Houthi Attack Revives Supply Fears 
Asian Stocks Fall as Surging Bond Yields Rattle Markets 
Gold Prices Fall as Treasury Yields Rise on Fed Rate Hike Bets 
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Oil prices edged higher in early Asian trading Monday after U.S. President Donald Trump extended the deadline for trade talks with the European Union, easing fears of looming tariffs that could weigh on global growth and oil demand. Brent crude rose 37 cents (0.6%) to $65.15 a barrel, while U.S. West Texas Intermediate (WTI) crude climbed 34 cents (0.6%) to $61.87 by 0001 GMT.
Analyst Tony Sycamore of IG Markets noted the "nice push higher" in both crude and U.S. equity futures following the deadline extension. Trump said he granted the EU’s request, led by Commission President Ursula von der Leyen, for more time to strike a trade deal, pushing the deadline to July 9.
Oil prices also gained momentum after limited progress in U.S.-Iran nuclear negotiations reduced fears of increased Iranian crude supply. Additionally, pre-Memorial Day short covering by U.S. buyers contributed to Friday’s 0.5% gain in both Brent and WTI.
Further supporting prices was the latest report from Baker Hughes, showing U.S. energy firms cut the number of active oil rigs by eight last week, bringing the total to 465—the lowest since November 2021—amid pressure from recent price softness.
However, upside remained capped by expectations that OPEC+ could increase production further. The group may raise July output by an additional 411,000 barrels per day (bpd), with Reuters reporting plans to fully unwind its remaining 2.2 million bpd voluntary cuts by the end of October. The group had already adjusted targets upward by 1 million bpd for April through June.
Global oil markets remain sensitive to geopolitical developments, trade negotiations, and supply-side adjustments, all of which will shape near-term crude price trends.
